Optimism that the bull market for sterling despite the new drop

Faith that sterling will recover and again the investors after the new dip, which was recorded due to the decline of the…
interest rate by the Central Bank of England (Boe) last Thursday.
In particular, John Goldie, who is dealing with the foreign currency in the company Argentex LLP in London, remains optimistic that the pound will recover even after the decision of the Boe and the additional easing announced and the results for the jobs in the U.S. that have brought again to the surface the issue of increase of απιτοκίων by the federal reserve, before the December.
The Goldie predicts that the sterling will climb to $1.38 on at the end of the year – almost 9% higher than the $1,27, which are the average estimates of analysts polled by Bloomberg.
“My opinion is only one, an increase in interest rates in the U.S. this year, without a doubt slowing down in all areas, but not as deep a slowdown as they have been warned and as you have suggested,” said Goldie in an interview.
“If we assume that we avoid the negative territory in the third quarter, then I think there’s still room for us to push higher as we move towards the end of the year,” he added.
The pound declined 1.2 percent this week and the $ 1,3069 on Friday, while on Thursday announced the Boe reducing interest rates after seven years, the pound fell by 1.6%. This decline is even greater than the low 31-year-old was found on 6 July.
However, the Goldie remains optimistic regarding the uk economy.
While some reports indicate that the Brexit has a negative impact on consumer confidence and business activity, the index of the Citi, which measures the strength of the basic data in relation to analysts ‘ expectations, rose this week to the highest level since September 2013.
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